Financial Performance Highlights (Consolidated)
H1 FY27 (April 2026 - September 2026) Results:
- Revenue from Operations: ₹20,587.3 lakhs, representing 99.4% YoY growth from H1 FY26 (₹10,322.6 lakhs) and 84.5% growth from H2 FY26 (₹11,160.4 lakhs)
- EBITDA: ₹2,937.0 lakhs, up 107.5% YoY with margin improvement of 60 bps to 14.3%
- Profit After Tax: ₹2,255.9 lakhs, up 122.2% YoY with PAT margin improvement of 120 bps to 11.0%
- EPS: ₹18.65 (based on profit after tax)
Standalone Performance (H1 FY27):
- Revenue from Operations: ₹20,447.1 lakhs, up 100.3% YoY
- EBITDA: ₹2,975.7 lakhs, up 105.6% YoY with margin of 14.6%
- PAT: ₹2,291.3 lakhs, up 114.7% YoY with PAT margin of 11.2%
- EPS: ₹18.94
Operational and Strategic Updates
EZRM SEZ Facility Construction:
- Full-scale construction underway at JNPT Special Economic Zone, Maharashtra
- 4,120 sq.m plot leased for 60 years at JNPA SEZ, Raigad
- Facility designed for nutraceutical CDMO operations with focus on advanced technologies including microencapsulation, liposomal delivery systems, and enhanced bioavailability formats
- Construction progress includes RCC structural development, PEB warehouse structure erection, and compound wall construction
- 55 personnel deployed at construction site
- Bhumi Pujan ceremony held on July 19, 2025
Business Overview:
- B2B supplier of raw ingredients for nutritional, sports, and health supplements
- Key products include amino acids (L-Leucine, L-Isoleucine, L-Valine, L-Lysine HCL), creatine monohydrate, whey protein concentrate, and specialty ingredients
- 28,259 sq. ft. warehousing facility in Bhiwandi, Maharashtra with blending, grinding, packing, labeling, and sealing operations
- ISO 9001:2015, ISO 22000:2018, HALAL, and KOSHER certifications
- Subsidiaries: Easy Raw Materials Private Limited (manufacturing & export) and Vinstar Biotech Private Limited (biotech & life sciences)
Market Context and Growth Drivers
- India's nutraceutical market growing at 10.3% CAGR, projected to reach USD 85 billion by 2033
- Key growth segments: sports & performance nutrition, protein fortification, metabolic & cognitive wellness, healthy ageing, and advanced formulation technologies
- Government incentives including PLI schemes and FSSAI regulations supporting domestic manufacturing
Management Commentary
Chairman & Managing Director Ankit Shailesh Mehta highlighted:
- H1 FY27 performance nearly matched company's entire FY26 revenue in six months
- Margin improvement reflects strength of business model and growing customer trust
- Continued investment in EZRM SEZ manufacturing facility as key milestone
- Focus on research and development, product innovation, and advanced nutraceutical technologies
- Healthy business visibility and strong sales pipeline for H2 FY27
Balance Sheet Position (Consolidated - Sep 2026)
Assets:
- Total Assets: ₹21,851.7 lakhs (vs. ₹15,707.5 lakhs in Mar 2026)
- Non-Current Assets: ₹3,307.3 lakhs including Property, Plant & Equipment (₹817.9 lakhs), Capital Work in Progress (₹956.9 lakhs), and Other Non-current Assets (₹1,518.0 lakhs)
- Current Assets: ₹18,544.4 lakhs including Inventories (₹4,376.8 lakhs), Trade Receivables (₹8,949.8 lakhs), Cash & Cash Equivalents (₹3,302.0 lakhs)
Liabilities & Equity:
- Total Equity: ₹15,228.0 lakhs including Share Capital (₹1,209.9 lakhs) and Reserves & Surplus (₹14,018.1 lakhs)
- Current Liabilities: ₹6,433.0 lakhs including Short Term Borrowings (₹2,029.6 lakhs) and Trade Payables (₹3,430.1 lakhs)
Cash Flow (Consolidated - H1 FY27)
- Net Cash from Operating Activities: (₹1,870.5) lakhs
- Net Cash from Investing Activities: (₹302.5) lakhs
- Net Cash from Financing Activities: ₹1,610.4 lakhs
- Net Decrease in Cash: (₹562.5) lakhs
Key Management
- Chairman & Managing Director: Ankit Shailesh Mehta (Chemical Engineering graduate, MBA in Technology Management, 11+ years entrepreneurial experience)
- Promoter & Executive Director: Parul Shailesh Mehta (9 years nutraceutical sector experience, science graduate)
- Promoter & Executive Director: Shailesh Vinodrai Mehta (Commerce graduate, 30+ years chemical sector experience)
Investor Relations
Investor Relations Partner: X-B4 Advisory LLP (Rasika Sawant / Aagam Shah)